Bitcoin hit its highest in two weeks on Saturday, extending the previous session’s strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets. The world’s largest cryptocurrency hit $41,983, taking gains from Thursday’s lows to nearly 16 percent, and marking a 27 percent rise from the year’s low…
Euro Adds Gains After ECB’s ‘Ground-Breaking’ Hawkish Turn
LONDON—The euro was on track on Friday for its best week versus the dollar since the COVID-19 pandemic hit, after a hawkish turn by the European Central Bank (ECB) rippled through markets. Rampant inflation across many global economies has forced central banks to tighten monetary policies that had been dramatically loosened to help consumers and…
Euro Surges After Inflation Hits New Record High
LONDON—The euro rose for a third consecutive day on Wednesday, coming off a 20-month low last week, as eurozone inflation rose to a new record last month fuelling bets the European Central Bank might raise interest rates sooner than expected. At 5.1 percent in January, price growth is more than twice the ECB’s 2 percent…
Dollar Falls Further From High; Australian Dollar Recovers
LONDON—The dollar fell again on Tuesday, while risk-sensitive currencies such as the British pound gained and the Australian dollar recovered from an overnight drop. After falling nearly 5 percent in January, world equities started February slightly firmer and currency markets have also changed course. After hitting a 19-month high last week, the U.S. dollar index…
Dollar Set for Biggest Weekly Rise in 7 Months on Rate Bets
LONDON—The dollar consolidated gains on Friday and was on track for its biggest weekly rise in seven months as bets of higher interest rates fuelled the U.S. unit’s gains versus rivals. With money markets pricing 32 bps of rate hikes in March and as many as 124 bps in cumulative increases before the end of…
Dollar Dips as Treasury Yields Stall, Commodity Currencies Rally
LONDON—The dollar dipped on Thursday as this week’s rally in U.S. Treasury yields paused, while the Canadian and Australian dollars gained on the back of rising commodity prices and optimism about economic growth. The euro and sterling rose after suffering their worst days in a month on Tuesday when the dollar was lifted by a…
Dollar Holds Near Weekly High, Sterling Takes Inflation Data in Stride
LONDON—The dollar held near a weekly high on Wednesday after a surge in U.S. yields resulted in sharp gains this week against the euro amid growing bets the Federal Reserve will raise the interest rate. Sterling was flat against the dollar after data showed British inflation rose 5.4 percent in December, to its highest level…
Dollar at Six-Day High After U.S. Yields Jump; Yen Steadies
LONDON—The dollar hit a six-day high in early trading on Tuesday following a jump in U.S. Treasury yields, while the yen steadied after the Bank of Japan saying it would stick to its ultra-loose monetary policy caused the currency to slip versus the dollar. The U.S. Federal Reserve meets next week. It is expected to…
Dollar Steadies as Traders Reassess Rate Hike Bets
LONDON—The dollar edged lower on Monday as traders took the view that Federal Reserve tightening moves were largely priced in, while the euro eased from Friday’s two-month high. An unexpected cut to key lending rates in China highlighted it as the outlier, with other major central banks in talks to raise rates. China’s move only…
Dollar Extends Losses, Euro Rallies as Traders Reassess Rate Hike Bets
LONDON—The dollar fell further on Thursday to two-month lows after U.S. inflation proved weaker than feared in December, prompting investors to cut crowded long positions in the currency. The euro was a big beneficiary of the move and extended its rise to as high as $1.1479, up 0.3 percent on the day, while sterling and…
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